Benefits of Going Solar In New Hampshire
Solar panels are not for everyone, but they are for the people that would like to cut costs on their electric bill, have shelter from fluctuating energy prices and say they were not a contributing factor to negative environmental change. With current incentives, rebates, tax credits, REC’s and net metering policies in place there has never been a better time for a New Hampshire resident to start saving money with a solar energy system.
All over New Hampshire homeowners and businesses have been making the change to solar and for good reason. Now through 2022 the IRS is offering a 30% federal tax credit available with the purchase of a solar system. Also NH (PUC) or Public Utility Commision has a 50 cent per watt rebate up to $2,500. With these to incentives combined a homeowner can reduce the cost of a solar system by up to 40%. Then you have the ability to utilize multiple different types of solar financing options with variable low interest rates ranging as low as three to four percent.
After the initial investment you will continually be reaping the benefits of the panels as they overtime will produce enough energy to create REC’s or Renewable Energy Credits. A REC is created when 1,000 kilowatts of electricity is put on the grid this is good for panel owners because for utility companies, to meet state requirements they have to own a certain amount of REC’s. To get this credits the utilities purchase through a broker, from the producer. Sold at auction a REC will sell for around 50 to 60 dollars a piece. Another benefit is that solar panels increase property value but installations are exempt and not realized on property taxes, meaning you will be able to increase the value of your property by not spending but saving money over time.
When going to solar you can also feel good about decreasing the utility companies production rate and helping the environment. Commercial industrial electricity production through fossil fueled plants is responsible for 40 percent of the carbon dioxide admitted to the environment also 23 percent of nitrogen oxide admission and 67 percent of sulfur dioxide admission. These are large numbers that represent contributing factors to global warming and smog creation in the areas of production. Bad for the environment and even your health increased levels of carbon dioxide in the air can play part in worsening heart disease and help influence respiratory problems such a emphysema and bronchitis. When looking at the long term solar would help eliminate these issues of carbon dioxide in the air and generally produce a better environmental situation as a whole.
Steven Hardt (Big Sky Associate)